Monthly Update - February

Two things helped to stabilize my net worth over the past month. First of all, the bonus, although relatively small, helped me out. Unfortunately, that money will go to my car insurance payment and the balance due on my taxes. Secondly, the market turned upwards in February, so my investments gained some value, although that makes little difference to me until I liquify the funds. That’s not part of my plan for many, many years.

If you look at the chart, you’ll see I switched a few things and made some changes.

  • I’m evaluating my funds on the last day of the month now instead of the first. I’ve revised the past numbers to fit the new accounting style.
  • I reevaluated the value of my car through edmunds.com, including past values.
  • My next paycheck (to be received this week) will be the first to include a reduction of 401(k) pretax contribution from 12% to 4%.
  • My student loan is now in deferrment since I have started taking classes for my MBA again.

    Continue reading to see the numbers.

    20050228.jpg

Scroll down to read 8 comments on “Monthly Update - February.”

Did you enjoy this article? If so, please share!
Add to: Tip'd | Facebook | Delicious | Reddit | Digg

Get the RSS feed or enter your email address:

Related Entries on Consumerism Commentary

8 Comments on “Monthly Update - February.” To add your own comment, scroll down.

  1. #1: Robin
    Wednesday, March 2, 2005
    1:36 pm (reply)

    This is a nice rolloup. Did you come up with the format yourself is Excel or do you use some other software to gather data and figure out the overall monthly based on payments, etc? I need to set this sort of thing up for myself. Why so much less into the 401K?

  2. #2: Flexo
    Wednesday, March 2, 2005
    3:53 pm (reply)

    The layout is based on a report from Quicken but it’s done in Excel. I export a report from Quicken and copy and paste the values into the Excel format.

    I reduced the 401(k) because I can’t make a higher contribution and meet all my expenses. The next step is to find a job where I can be paid enough to max out the 401(k).

  3. #3: Jonathan
    Thursday, March 3, 2005
    9:50 pm (reply)

    How do you to set up those sub-accounts at ING? I tried a couple days ago and couldn’t find the link for the life of me. TIA,

    Jonathan@MyMoneyBlog

  4. #4: Flexo
    Thursday, March 3, 2005
    10:18 pm (reply)

    Hi Jonathan,

    at ING Direct, just open another savings account. You can open multiple accounts under the same login id/customer information. They just call them accounts instead of sub-accounts. Technically, they are sub-accounts because FDIC considers your total in savings when it comes to coverage.

  5. #5: Ed
    Friday, March 4, 2005
    2:57 pm (reply)

    Have you prepared a similar spreadsheet to track monthly expenses and savings?

  6. #6: Flexo
    Saturday, March 5, 2005
    12:17 am (reply)

    Good idea, Ed. Posted.

  7. #7: HELOC
    Wednesday, March 23, 2005
    8:07 am (reply)

    Hi –
    Noticed that you’re using the Upromise credit card. I used to use this card but switched to the 2% Fidelity 529 card for college savings. I think I did a pretty thorough comparison and made the right choice, but am curious if I missed anything. The main drawback of the Fidelity card is that you have to use their 529 products – but I’m OK with that.

    BTW – I don’t work for Fidelity. I do have 4 kids though and maximizing college savings is important to me.

    Thanks
    Tim

  8. #8: Flexo
    Wednesday, March 23, 2005
    9:06 am (reply)

    I use the Upromise credit card, but I do not invest in a 529. I have the rebate returned directly to me.

Welcome to Consumerism Commentary

Consumerism Commentary is a blog for men and women who wish to make the most of their financial lives. Read more about Consumerism Commentary.


Cash Loans
FNBO Direct
ShareBuilder - Welcome page

Credit Card Offers

Recent Comments

FNBO Direct

Best of Consumerism Commentary

Recent Articles

Recent Topics on C3 Forums

Popular on pfblogs.org

Subscribe via E-mail

Tip'd
Click here to start saving with ING DIRECT!

Contributors

Disclaimer

The authors of Consumerism Commentary are not professional financial advisers and no text within this website should be considered financial advice. Any individual who makes financial decisions based solely on the information contained within does so at his or her own risk. Always consult a financial professional.

About Advertising

This website contains advertisements, usually listed as “sponsors.” Some links are for products or services for which Consumerism Commentary is an "affiliate." No articles within the blog are advertisements disguised as blog entries. Consumerism Commentary is not compensated for any content, except for advertising sold. This site contains no Pay-Per-Post (or similar) articles.

Privacy Policy

Carnival of Personal Finance